Oracle Promises Arrival Of More Blockchain Products

Software giant Oracle will this month begin unveiling its blockchain software, as it seeks to expand its portfolio of products utilising the technology behind many cryptocurrencies.

The news was revealed by Oracle’s product development boss, and will see Oracle compete against other tech rivals such as IBM, which is also utilising blockchain technology.

Oracle first revealed its new based Blockchain service and AI application last October. The Oracle Blockchain Cloud service is an “enterprise-grade” distributed ledger cloud that claims to deliver all the promised benefits of the system that powered Bitcoin by lowering the costs of transactions and making them tamper-proof.

Blockchain products

But now Thomas Kurian, president of product development, was reported by Bloomberg as saying on Monday at Oracle headquarters, that the firm will introduce a platform-as-a-service blockchain product this month and decentralised ledger-based applications next month,

Blockchain of course is a decentralised ledger system that became popular with the Bitcoin cryptocurrency, and has since been applied in areas as diverse as finance and healthcare.

Kurian also revealed that Oracle was working with Banco de Chile to log inter-bank transactions on a hyperledger.

Another client is said to be the government of Nigeria, which has sought to document customs and import duties on blockchain.

It seems also that Oracle’s blockchain products will also be pitched to pharmaceutical companies to track and trace batches of medicine, which may potentially ease recalls.

Kurian said Oracle’s products will be compatible with other platforms, which is just as well, as a number of other tech firms are also firmly aboard the blockchain bandwagon.

Last August for example IBM introduced what it called the industry’s first enterprise-ready blockchain offering. This service was aimed at introducing the technology into the food supply chain.

Salesforce.com meanwhile intends to unveil a blockchain product by its annual Dreamforce conference in the Autumn.

Quiz: What do you know about Oracle?

Tom Jowitt

Tom Jowitt is a leading British tech freelancer and long standing contributor to Silicon UK. He is also a bit of a Lord of the Rings nut...

Recent Posts

Twitter Confirms ‘Super Follow’ Option, For Paid Content

Money maker. Super follow feature coming soon on Twitter, will allow users to receive tips…

11 hours ago

Windows 10 ‘Sun Valley’ Promises Major Overhaul

OS refresh. Major update to six year old Windows 10 operating system, dubbed Sun Valley,…

14 hours ago

Oxford University Confirms Hack Of Biology Lab Studying Covid-19

NCSC investigates after hackers compromised one of the world’s top biology labs at Oxford University,…

16 hours ago

Consumer Group Which? Targets Qualcomm In Legal Action

Legal action against Qualcomm could result in 29 million UK 4G smartphone owners being entitled…

1 day ago

Google To Change Review Process Of Scientist Work

Executives at troubled Google AI research unit say they are working to retain trust, after…

1 day ago

NHS Challenged Over Data Contract With Palantir

Contract between NHS and data mining firm Palantir now at centre of lawsuit filed by…

2 days ago